ORIGINAL_ARTICLE
The Impact of Purchases With Debit Cards on the Consumption of Unhealthy Food
The present study aimed to determine whether consumers are more likely to buy unhealthy food items when paying with debit cards compared to the time when they pay in cash, analyzing the effects of payment methods on the impulsive purchase of unhealthy products. To this end, the purchase behavior of a sample of 760 consumers was analyzed via a preliminary study and three main studies. To collect the data, consumer invoices, questionnaires, and purchase simulation techniques were used. The findings indicated that even though the participants who were randomly placed in the debit card payment group were aware of the unhealthiness of the food products, they still purchased such products, clearly showing their impulsive behavior. In cash purchases, the number of unhealthy food items in the shopping basket of consumers proved to be lower compared to when the consumers paid with debit cards. Furthermore, paying with debit cards reduced the pain of paying, ultimately raising the purchase of unhealthy food items.
https://ijms.ut.ac.ir/article_78561_ac8b7c8ca0d127d00e0ecb1106a907c2.pdf
2022-01-01
1
17
10.22059/ijms.2020.309818.674209
Pain of paying
Impulsive Purchase
Unhealthy Food Items
Payment Methods
Debit Cards
Danial
Shahrabi Farahani
shahrabidanial@alumni.ut.ac.ir
1
Master’s Student of Marketing Management, University of Tehran, Tehran, Iran
LEAD_AUTHOR
Mansour
Momeni
mmomeni@ut.ac.ir
2
Professor, Faculty of Management and Accounting, University of Tehran, Tehran, Iran
AUTHOR
Ezatollah
Abbasian
e.abbasian@ut.ac.ir
3
Associate Professor in Economics, Department of Public Administration, Faculty of Management, University of Tehran, Tehran, Iran
AUTHOR
Amir Hadi
Mohammadi
amirhadimohamadi@gmail.com
4
Master’s Holder, Faculty of Management, University of Tehran, Tehran, Iran
AUTHOR
Parisa
Nikeghbal
parisa.nikeghball@yahoo.com
5
Undergraduate Student of Medical Laboratory Sciences, Zahedan Branch, Islamic Azad University, Zahedan, Iran
AUTHOR
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51
ORIGINAL_ARTICLE
Developing Iranian Sports Coaches’ Personal Brand
The purpose of the present study was to design a model for developing the personal brand of Iranian sports coaches. The research population in the qualitative section was comprised of professors, experts, and experts in the field of sports marketing and branding along with the professional coaches of Iran. Moreover, the research sample of the quantitative section was made of 253 coaches, managers, athletes, fans, media, and economic and marketing activists, especially in the field of branding. In the qualitative section, article reviews and deep and semi-structured interviews were used for data collection. The findings of the qualitative section were compiled in the form of 78 concepts, 22 categories, and 6 dimensions, and indicated that personality, coach’s behavioral approach, communication, market approach, coach’s expertise, performance, and skill, and macro levels are the most important factors influencing the development of Iranian sports coaches’ personal brand. Therefore, coaches, managers, and sports marketers of Iran can rely on these factors and the model of this research to provide the necessary platform for the development of Iranian sports coaches’ personal brand and increase their income and credibility.
https://ijms.ut.ac.ir/article_78797_b0e657a6f81b138a3590ea882bfd5829.pdf
2022-01-01
19
33
10.22059/ijms.2020.311624.674250
personal brand
sports coaches
Development
Personality
skill
Leila
Mortezaee
lleilaa.mortezaee@yahoo.com
1
Department of Sport Management, Faculty of Sports Sciences, University of Mazandaran, Babolsar, Iran
AUTHOR
Morteza
Dousti
dosti@umz.ac.ir
2
Department of Sport Management, Faculty of Sports Sciences, University of Mazandaran, Babolsar, Iran
LEAD_AUTHOR
Sayyed Mohammad Hossien
Razavi
3
Department of Sport Management, Faculty of Sports Sciences, University of Mazandaran, Babolsar, Iran
AUTHOR
Saeed
Tabesh
saeid_tabesh@yahoo.com
4
Department of Sport Management, Faculty of Sports Sciences, University of Mazandaran, Babolsar, Iran
AUTHOR
Arai, A., Ko, Y. J., & Ross, S. (2014). Branding athletes: Exploration and conceptualization of athlete brand image. Sport Management Review, 17(2), 97-106.
1
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2
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3
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4
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5
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6
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7
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8
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18
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19
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24
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26
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27
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28
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29
ORIGINAL_ARTICLE
The Institutional Theory on the Internal Audit Effectiveness: The Case of India
The necessity and importance of internal auditing in the Indian listed companies is increasing because of the strengthening of corporate governance practices by regulatory bodies, and the Indian market environment is becoming more competitive. This study attempted to determine some of the critical factors that affect the effectiveness of internal auditing in Indian listed companies. To this end, a sample of 252 Nifty companies was recruited. We mailed questionnaires to the Head of Internal Audit Department, Chief of Accounts, and Chief Executive Officers of the companies. The overall response rate was 29.4%. Companies represented manufacturing, information technology, retail, banking, and financial services. The results of multiple regression analysis revealed that the factors affecting the effectiveness of internal auditing are the competency of internal audit staff and the interaction of internal auditing with audit committee. The study came to the conclusion that institutional theory best explains the effectiveness of internal auditing in Indian context. It thus encourages auditing professionals to develop their core competencies for delivering their services efficiently, and informs them that the continuous interaction with audit committee members will help them to be focused on the organizational performance by improving the IA effectiveness. At the end, the theoretical and practical implications of the study along with the directions for the future research are provided.
https://ijms.ut.ac.ir/article_79981_e8b56fc7befe4e11a9d3fc3f4046e8c8.pdf
2022-01-01
35
48
10.22059/ijms.2021.313778.674303
Audit committee
Management support
independence
Internal competency
Interactions of internal auditing and audit committee
India
Size
Prem
Joshi
prem@acadjoshi.com
1
ICSSR Senior Fellow, Western Regional Centre (Institute of ICSSR), Mumbai, India
LEAD_AUTHOR
Golrida
Karyawati Purba
golrida@yahoo.com
2
Associate Professor of Accounting, Universitas Pelita Harapan, Indonesia
AUTHOR
Abbott, L. J., Parker, S., & Peters, G. F., (2012). Audit fee reductions from internal audit-provided assistance: The incremental impact of internal audit characteristics. Contemporary Accounting Research, 29(1), 94-118.
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47
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48
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49
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50
ORIGINAL_ARTICLE
Improving the Omnichannel Customers’ Lifetime Value Using Association Rules Data Mining: A Case Study of Agriculture Bank of Iran
Multi-channel marketing causes the customer to lack a unique identity in different channels. This issue overshadows the synergy of the channels in strengthening the positive attitude of the customers. However, an omnichannel marketing strategy can work properly. The main purpose of this study, which was conducted in Agriculture Bank of Iran, was to develop a comprehensive model for calculating customers’ lifetime values, analyzing customers’ behaviors in different channels by association rules data mining, and analyzing the relationship between omnichannel strategy and CLV. First, the association rules in the big data of customers’ banking transactions in different channels were identified using association rules data mining. Then, the CLV indicators were identified and prioritized using interviews, questionnaires, and AHP methods, and the lifetime values of omnichannel and other customers were calculated and compared using t-test. Then, omnichannel customers were categorized based on the association rules and the lifetime values of omnichannel customers of different categories was compared using ANOVA method. Eleven association rules regarding the use of banking channels by omnichannel customers were identified. The results show that there is a significant difference between the lifetime values of omnichannel customers and other customers and the lifetime values of omnichannel customers is 134% more.
https://ijms.ut.ac.ir/article_81031_e979cf570517310ca076013959105370.pdf
2022-01-01
49
68
10.22059/ijms.2021.314405.674317
Omnichannel Marketing
Omnichannel Banking
CLV
Association Rule Data Mining
Big data
Mohammad
Rezaei
sarmastan912@gmail.com
1
PhD Candidate of Business Management, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran
AUTHOR
Ali
Sanayei
a_sanayei@ase.ui.ac.ir
2
Professor, Department of Management, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran
LEAD_AUTHOR
Seyed Fathollah
Amiri Aghdaie
s.aghdaie@ase.ui.ac.ir
3
Associate Professor, Department of Management, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran
AUTHOR
Azarnoush
Ansari
noosh.azar@gmail.com
4
Assistant Professor, Department of Management, Faculty of Administrative Sciences and Economics, University of Isfahan, Isfahan, Iran
AUTHOR
Bhatnagar, A., & Syam, S. (2014). Allocating a hybrid retailer’s assortment across retail stores: Bricks-and-mortar vs online. Journal of Business Research, 67(June), 1293-1302.
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29
ORIGINAL_ARTICLE
Sports Business Resilience in the COVID-19 Crisis: The Delphi Qualitative Approach
The present study attempts to evaluate the challenges of sports businesses in the COVID-19 pandemic crisis and introduce their resilience solutions. This research was qualitative, with the Delphi method used to conduct it. In the first phase, 9 challenges and 88 business resilience strategies were extracted in the form of a questionnaire. In the second phase, these challenges and strategies were provided to the Delphi panel consisting of 18 professors of sports management and sports business managers, who were selected in a purposeful manner through snowball sampling method. Finally, 11 challenges in the two categories of supply side challenges and demand side challenges were identified. In addition, 94 sports business resilience strategies for COVID and post-COVID eras were identified in four categories, namely marketing mix management, process management, organizational resource management, and strategic action management. These operational strategies can save sports businesses from the risk of bankruptcy and exclusion from the sports ecosystem and strengthen these firms for future crises by increasing their resilience.
https://ijms.ut.ac.ir/article_81134_de9ec90f6819be8a704778c40b51b3f5.pdf
2022-01-01
69
84
10.22059/ijms.2021.315742.674355
sports industry
Supply Chain
Supply side
Demand side
Covid-19
Zahra
Sadeqi-Arani
sadeqiarani@kashanu.ac.ir
1
Assistant Professor, Department of Management and Entrepreneurship, University of Kashan, Kashan, Iran
AUTHOR
Ebrahim
Alidoust Ghahfarokhi
e.alidoust@ut.ac.ir
2
Associate Professor, Sport Management Department, Faculty of Physical Education and Sport Sciences, University of Tehran, Tehran, Iran
LEAD_AUTHOR
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42
ORIGINAL_ARTICLE
A Lot-Sizing Model for Non-Instantaneous Deteriorating Products Under Advance Payment and Non-Linear Partial Backlogging
In real life conditions, the buyers sometimes pay all or a percentage of the product price before receiving it, and the wholesaler sometimes allows them to prepay it at equal intervals. The present study develops a new mathematical model for products with non-instantaneous deteriorating rates by considering consecutive advance payments. In the proposed inventory model, the shortage is consisting of lost sales along with backorders simultaneously. In addition, the model considers the backlogging as totally dependent on the waiting time for the further cycle. In addition, the appropriate conditions to achieve the optimal solutions have been developed, and numerical instances have been provided to verify and evaluate the results and solution method. The useful methods to effectively reduce the annual total cost are provided according to the results of the sensitivity analysis.
https://ijms.ut.ac.ir/article_81353_3536d70cbb328bddd33d31aaee3b1131.pdf
2022-01-01
85
110
10.22059/ijms.2021.315463.674346
Economic order quantity
non-linear partial backordering
non-instantaneous deterioration
advance payments
Deteriorating items
Sara
Tavassoli
tavassoli.st@gmail.com
1
School of Industrial and Systems Engineering, College of Engineering, University of Tehran, Tehran, Iran
AUTHOR
Neda
Manavizadeh
n.manavi@khatam.ac.ir
2
Department of Industrial Engineering, KHATAM University, Tehran, Iran
AUTHOR
Aida
Rezaei
aida.rezaei@ut.ac.ir
3
School of Industrial and Systems Engineering, College of Engineering, University of Tehran, Tehran, Iran
AUTHOR
Masoud
Rabbani
mrabani@ut.ac.ir
4
School of Industrial and Systems Engineering, College of Engineering, University of Tehran, Tehran, Iran
LEAD_AUTHOR
Ai, X. Y., Zhang, J. L., & Wang, L. (2017). Optimal joint replenishment policy for multiple non-instantaneous deteriorating items. International Journal of Production Research, 55(16), 4625-4642. https://doi.org/10.1080/00207543.2016.1276306
1
Bakker, M., Riezebos, J., & Teunter, R. H. (2012). Review of inventory systems with deterioration since 2001. European Journal of Operational Research, 221(2), 275-284. https://doi.org/10.1016/j.ejor.2012.03.004
2
Bishi, B., & Sahu, S. K. (2018). An inventory model for deteriorating items with quadratic demand and partial backlogging. Journal of Computer and Mathematical Sciences, 9(12), 2188-2198.
3
Cambini, A., & Martein, L. (2008). Generalized convexity and optimization: Theory and applications. Springer Science & Business Media.
4
Chakraborty, D., Jana, D. K., & Roy, T. K. (2020). Multi-warehouse partial backlogging inventory system with inflation for non-instantaneous deteriorating multi-item under imprecise environment. Soft Computing, 24(19), 14471-14490.
5
Das, S. C., Manna, A. K., Rahman, M. S., Shaikh, A. A., & Bhunia, A. K. (2021). An inventory model for non-instantaneous deteriorating items with preservation technology and multiple credit periods-based trade credit financing via particle swarm optimization. Soft Computing, , 5365-5384.
6
Diabat, A., Taleizadeh, A. A., & Lashgari, M. (2017). A lot sizing model with partial downstream delayed payment, partial upstream advance payment, and partial backordering for deteriorating items. Journal of Manufacturing Systems, 45, 322-342. https://doi.org/10.1016/j.jmsy.2017.04.005
7
Dutta, D., & Kumar, P. (2015). A partial backlogging inventory model for deteriorating items with time-varying demand and holding cost. International Journal of Mathematics in Operational Research, 7(3), 281-296. https://doi.org/10.1504/IJMOR.2015.069144
8
Dye, C. Y. (2007). Joint pricing and ordering policy for a deteriorating inventory with partial backlogging. Omega, 35(2), 184-189. https://doi.org/10.1016/j.omega.2005.05.002
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10
Geetha, K. V., & Udayakumar, R. (2016). Optimal lot sizing policy for non-instantaneous deteriorating items with price and advertisement dependent demand under partial backlogging. International Journal of Applied and Computational Mathematics, 2(2), 171-193.
11
Ghoreishi, M., Weber, G. W., & Mirzazadeh, A. (2015). An inventory model for non-instantaneous deteriorating items with partial backlogging, permissible delay in payments, inflation-and selling price-dependent demand and customer returns. Annals of Operations Research, 226(1), 221-238.
12
Goyal, S. K., & Giri, B. C. (2001). Recent trends in modeling of deteriorating inventory. European Journal of Operational Research, 134(1), 1-16. https://doi.org/10.1016/S0377-2217(00)00248-4
13
Gupta, R. K., Bhunia, A. K., & Goyal, S. K. (2009). An application of Genetic Algorithm in solving an inventory model with advance payment and interval valued inventory costs. Mathematical and Computer Modelling, 49(5-6), 893-905. https://doi.org/10.1016/j.mcm.2008.09.015
14
Halim, M. A., Paul, A., Mahmoud, M., Alshahrani, B., Alazzawi, A. Y., & Ismail, G. M. (2021). An overtime production inventory model for deteriorating items with nonlinear price and stock dependent demand. Alexandria Engineering Journal, 60(3), 2779-2786. https://doi.org/10.1016/j.aej.2021.01.019
15
Hung, K. C. (2011). An inventory model with generalized type demand, deterioration and backorder rates. European Journal of Operational Research, 208(3), 239-242. https://doi.org/10.1016/j.ejor.2010.08.026
16
Jaggi, C. K., Tiwari, S., & Goel, S. K. (2017). Credit financing in economic ordering policies for non-instantaneous deteriorating items with price dependent demand and two storage facilities. Annals of Operations Research, 248(1-2), 253-280.
17
Khakzad, A., & Gholamian, M. R. (2020). The effect of inspection on deterioration rate: An inventory model for deteriorating items with advanced payment. Journal of Cleaner Production, 254, 120117. https://doi.org/10.1016/j.jclepro.2020.120117
18
Khan, M. A. A., Shaikh, A. A., Konstantaras, I., Bhunia, A. K., & Cárdenas-Barrón, L. E. (2020). Inventory models for perishable items with advanced payment, linearly time-dependent holding cost and demand dependent on advertisement and selling price. International Journal of Production Economics, 230, 107804. https://doi.org/10.1016/j.ijpe.2020.107804
19
Khan, M. A. A., Shaikh, A. A., Panda, G. C., Bhunia, A. K., & Konstantaras, I. (2020). Non-instantaneous deterioration effect in ordering decisions for a two-warehouse inventory system under advance payment and backlogging. Annals of Operations Research, 289, 243-275.
20
Khan, M. A. A., Shaikh, A. A., Panda, G. C., & Konstantaras, I. (2019). Two-warehouse inventory model for deteriorating items with partial backlogging and advance payment scheme. RAIRO-Operations Research, 53(5), 1691-1708. https://doi.org/10.1051/ro/2018093
21
Kumar, P., & Keerthika, P. S. (2018). An inventory model with variable holding cost and partial backlogging under interval uncertainty: Global criteria method. International Journal of Mechanical Engineering and Technology, 9(11), 1567-1578.
22
Lashgari, M., Taleizadeh, A. A., & Sadjadi, S. J. (2018). Ordering policies for non-instantaneous deteriorating items under hybrid partial prepayment, partial trade credit and partial backordering. Journal of the Operational Research Society, 69(8), 1167-1196. https://doi.org/10.1080/01605682.2017.1390524
23
Lee, Y. P., & Dye, C. Y. (2012). An inventory model for deteriorating items under stock-dependent demand and controllable deterioration rate. Computers & Industrial Engineering, 63(2), 474-482. https://doi.org/10.1016/j.cie.2012.04.006
24
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ORIGINAL_ARTICLE
Dynamic Pricing: A Bibliometric Approach
Dynamic pricing is a field of research that has gained acceptance in the scientific community and management literature. This paper aims to review the citations made in the literature on dynamic pricing and investigate the development of knowledge of this field of research. Bibliometric methods were used to conduct this study, including scientific mapping of dynamic pricing. VOSviewer software was used for scientific mapping. Five clusters in the co-citation were introduced by giving statistical and graphical information. A conceptual framework of perceived price fairness was presented. The results show a growing trend in dynamic pricing. It has been shown that adequate studies have not been there to identify the variables affecting dynamic pricing and to consider all the dimensions affecting the perceived fairness of price, and fewer studies have been conducted in the field of B2B research. The results of the study show that in all bibliographic fields USA is dominant to other countries. This article is the first bibliographic study in the field of dynamic pricing, and it presents the research gap in this area and directs the perspective of future research. This article is useful for researchers and enthusiasts in the field of dynamic pricing.
https://ijms.ut.ac.ir/article_81679_f80045205a6fb4167f322007833d81bb.pdf
2022-01-01
111
132
10.22059/ijms.2021.315212.674336
Dynamic pricing
perceived Price Fairness
Science Map
Bibliometric
Fatemeh
Goli
f.goli@alzahra.ac.ir
1
Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran
AUTHOR
Manijeh
Haghighinasab
mhaghighinasab@alzahra.ac.ir
2
Department of Management, Faculty of Social Sciences and Economics, Alzahra University, Tehran, Iran
LEAD_AUTHOR
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ORIGINAL_ARTICLE
Bank Efficiency Forecasting Model Based on the Modern Banking Indicators Using a Hybrid Approach of Dynamic Stochastic DEA and Meta-Heuristic Algorithms
Evaluating the efficiency of banks is crucial to orient their future decisions. In this regard, this paper proposes a new model based on dynamic stochastic data envelopment analysis in a fuzzy environment by considering the modern banking indicators to predict the efficiency of banks, which belongs to the category of NP-hard problems. To deal with the uncertainty in efficiency forecasting, the mean chance theory was used to express the constraints of the model and the expected value in its objective function to forecast the expected efficiency of banks. To solve the proposed model, two hybrid algorithms were designed by combining Monte Carlo (MC) simulation technique with Genetic Algorithm (GA) and Imperialist Competitive Algorithm (ICA). In order to improve the performances of MC-GA and MC-ICA parameters, the Response Surface Methodology (RSM) was applied to set their proper values. In addition, a case study in the modern banking industry was presented to evaluate the performance of the proposed model and the effectiveness of the hybrid algorithms. The results showed that the proposed model had high accuracy in predicting efficiency. Finally, to validate the designed hybrid algorithms, their results were compared with each other in terms of accuracy and convergence speed to the solution.
https://ijms.ut.ac.ir/article_82363_5cf1d545d75661e54182d86b675874fd.pdf
2022-01-01
133
153
10.22059/ijms.2021.313408.674294
Dynamic Stochastic Data Envelopment Analysis
Fuzzy programming
Hybrid Meta-heuristic Algorithm
Modern Banking
Monte Carlo simulation
Ali
Yaghoubi
a.yaghoubi@raja.ac.ir
1
Postdoctoral Research Student, Department of Industrial Management, Faculty of Social Sciences, Imam Khomeini International University (IKIU), Qazvin, Iran
LEAD_AUTHOR
Safar
Fazli
fazli@soc.ikiu.ac.ir
2
Associate Professor, Department of Industrial Management, Faculty of Social Sciences, Imam Khomeini International University (IKIU), Qazvin, Iran
AUTHOR
Amirteimoori, A., Azizi, H., & Kordrostami, S. (2020). Double frontier two-stage fuzzy data envelopment analysis. International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems, 28(01), 117-152.
1
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2
Atashpaz-Gargari, E., & Lucas, C. (2007, September). Imperialist competitive algorithm: an algorithm for optimization inspired by imperialistic competition. In 2007 IEEE congress on evolutionary computation (pp. 4661-4667). Singapore: Ieee.
3
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4
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15
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25
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26
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34
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35
Wanke, P., Azad, M. A. K., Barros, C. P., & Hassan, M. K. (2016). Predicting efficiency in Islamic banks: An integrated multicriteria decision making (MCDM) approach. Journal of International Financial Markets, Institutions and Money, 45, 126-141.
36
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37
Yaghoubi, A., & Amiri, M. (2015). Designing a new multi-objective fuzzy stochastic DEA model in a dynamic environment to estimate efficiency of decision making units (Case study: An Iranian petroleum company). Journal of Industrial Engineering and Management Studies, 2(2), 26-42.
38
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39
ORIGINAL_ARTICLE
Discretionary Workplace Behaviors: The Effect of Communication Satisfaction on Workplace Deviance and OCB with the Mediation Role of Justice Sensitivity
Both workplace deviance (WD) and organizational citizenship behaviors (OCBs) are noted as being discretionary behaviors that are rooted in social exchange and responses to the environment. This study aims to investigate the mediation role of justice sensitivity between communication satisfaction and discretionary workplace behaviors. The statistical population consisted of 650 employees of Guilan Technical & Vocational Training Organization, and the optimal sample was determined by Cochran's formula to be 271. Questionnaires were distributed among the employees using the stratified random sampling method and statistical data were processed using SPSS 19 and Smart PLS 2. The results revealed that communication satisfaction has a positive effect on justice sensitivity, and justice sensitivity has a negative effect on workplace deviance. As well as, communication satisfaction has a direct effect on workplace deviance. So, justice sensitivity has a partial mediator role in significant impression of communication satisfaction to workplace deviance. The findings also indicate the justice sensitivity has a positive effect on OCB. But, communication satisfaction has no a direct effect on OCB. The results of this study yield that justice sensitivity has a full mediator role between communication satisfaction and OCB.
https://ijms.ut.ac.ir/article_82395_95861d8b2172bedbfc2f4e58a814c9fd.pdf
2022-01-01
155
168
10.22059/ijms.2021.311592.674248
Communication Satisfaction
Justice Sensitivity
Discretionary Workplace Behavior
Workplace deviance
OCBs
Hossein
Damghanian
hdamghanian@semnan.ac.ir
1
Faculty of Economics, Management and Administrative Sciences, Semnan University, Semnan, Iran
LEAD_AUTHOR
Feze
Ghanbari Ghaleroudkhani
fghanbari1121@semnan.ac.ir
2
Faculty of Economic, Management and Administrative Sciences, Semnan University, Semnan, Iran
AUTHOR
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ORIGINAL_ARTICLE
The Effect of Company’s Interest Coverage Ratio on the Structural and Reduced-Form Models in Predicting Credit Derivatives Price
Derivative pricing models use either fixed or variable interest rates at the corporate level to compensate for the devaluation, which results in an estimated accounting profit caused by the cash inflation at the maturity date. These models also fail to take into account the lost opportunity costs, which are considered a deficiency. Accordingly, the present study set out to remove this problem by adding the company’s Interest Coverage Ratio (ICR) to pricing models, which is the novelty of this study. The research data was extracted from the Bloomberg Terminal for an eight-year period from 2008 to 2015. The statistical population of the research included the North American and European companies recognized as the reference entities for Credit Default Swaps (CDS) in the given period, and the statistical sample consisted of 125 companies. The data was analyzed using four Artificial Neural Network (ANN) algorithms, namely ANFIS, NNARX, AdaBoost, and SVM. The research results indicated the increased predictive accuracy of the pricing models under scrutiny after adding the ICR. The findings also shed light on the superiority of the intensity model over the structural model in prognosticating the price of CDS contracts.
https://ijms.ut.ac.ir/article_82863_9593d65c29a5af008b854910b9c558dc.pdf
2022-01-01
169
188
10.22059/ijms.2021.313368.674295
Merton model
Reduced-form models
Credit default swaps
Interest coverage ratio
ANNs
Amirhossein
Taebi Noghondari
amirtaebi@gmail.com
1
Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran
LEAD_AUTHOR
Hadis
Zeinali
hadisazeinali@gmail.com
2
Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran
AUTHOR
Asghar
Beytollahi
hamibeytollahi89@gmail.com
3
Department of Accounting, Kerman Branch, Islamic Azad University, Kerman, Iran
AUTHOR
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